Campaigning in Detroit, Michigan on Monday, Vice President Joe Biden praised the auto industry for investing in American factories.
“Because of you and your productivity, the combined auto companies have committed to invest another $23 billion dollars in expansion in America,” Biden said, touting a recent investment by Chrysler. “Not the Bain way … not in Mexico … not in China … not in Vietnam, but in Detroit, Cleveland … Right here in America!”
In Ohio last Friday, Biden made a similar remark, praising General Motors for investing $200 million into a Lordstown, Ohio plant that manufactures the Chevrolet Cruze.
The message was clear. President Obama and General Motors invests in America; but Mitt Romney and Bain Capitol invest in China and Mexico.
But for Vice President Biden to ignore investments by General Motors into China and Mexico is incredibly naive.
In Mexico, General Motors announced in July that they planed to invest $420 million into two factories in the country to manufacture the Chevrolet Trax and full-sized trucks. In 2011, General Motors announced plans to invest $540 million into a Mexican engine plant, drawing praise from Mexican President Felipe Calderon.
In China, General Motors announced plans in 2011 to invest up to $7 billion over the next five years aiming to double its sales by 2015, according to China Daily. Today, Reuters reports, General Motors is turning to the Chinese to boost sales of its small Chinese-designed car in India.
In April, General Motors announced plans to boost Chinese vehicle production to 5 million cars a year by 2016.
Also in April, Dan Akerson, the Chairman and CEO of General Motors, traveled to the Beijing Motor Show to promote the Cadillac brand to the Chinese.
“Today, I’m pleased to announce the newest member of the Cadillac family in China – the XTS luxury sedan — the most technically advanced car we’ve brought to production to date,” Akerson said during the event according to prepared remarks. “The XTS delivers Cadillac’s signature space, comfort and elegance along with great driving dynamics. I am very pleased to confirm that it will be built at the SGM plant in Shanghai.”
It’s almost exactly what Biden or President Obama would have said – if they were celebrating a General Motors investment in Ohio instead of Shanghai.